Biden to replenish 2.7 million barrels of oil out of the 180 million he released from the Strategic Oil Reserves at over $79/barrel.

[Nostra]

Another Joe Biden liberal policy disaster for America.

A drop in the bucket from the amount he released to buy votes in 2022. It's going to cost taxpayers a fortune to replenish to the levels it needs to be. I hope you clowns enjoyed your .02 cheaper gas when it was over $4.00.

Remember when Schumer and the Democrats were crowing about stopping Trump from filling it up at under $20/barrel?

The Biden administration plans to buy 2.7 million barrels of oil to help replenish the nation's much-depleted emergency stockpile.

The planned purchase for the oil is at an average price of $79 per barrel, the Department of Energy said in a statement on Friday.

Biden sold off more than 40% of the Strategic Petroleum Reserve last year to help lower gas prices following the Russian invasion of Ukraine. In total, the White House tapped the reserve four times last year, including when Biden ordered a record-setting 180 million barrels of oil released from the reserve.

The repeated withdrawals left the stockpile at the lowest level since the 1980s, prompting accusations from Republicans that Biden had left the U.S. vulnerable to potential energy threats.

The reserve had 351 million barrels in the week ended November 24, still near the lowest level since 1984, according to the latest Department of Energy data. That is down from about 630 million barrels at the beginning of 2020.

However, it is a notable increase from early 2020, when prices were under $20 per barrel. At the time, former President Donald Trump tried to add 77 million barrels of oil to the emergency oil cache, but he was blocked by congressional Democrats.

Biden administration plans to buy 2.7M oil barrels to refill emergency stockpile

The Biden administration announced on Friday that it plans to buy 2.7 million barrels of oil to help replenishing the nation's Strategic Petroleum Reserve.

www.foxbusiness.com

 

[citygator]

Another Joe Biden liberal policy disaster for America.

A drop in the bucket from the amount he released to buy votes in 2022. It's going to cost taxpayers a fortune to replenish to the levels it needs to be. I hope you clowns enjoyed your .02 cheaper gas when it was over $4.00.

Remember when Schumer and the Democrats were crowing about stopping Trump from filling it up at under $20/barrel?

The Biden administration plans to buy 2.7 million barrels of oil to help replenish the nation's much-depleted emergency stockpile.

The planned purchase for the oil is at an average price of $79 per barrel, the Department of Energy said in a statement on Friday.

Biden sold off more than 40% of the Strategic Petroleum Reserve last year to help lower gas prices following the Russian invasion of Ukraine. In total, the White House tapped the reserve four times last year, including when Biden ordered a record-setting 180 million barrels of oil released from the reserve.

The repeated withdrawals left the stockpile at the lowest level since the 1980s, prompting accusations from Republicans that Biden had left the U.S. vulnerable to potential energy threats.

The reserve had 351 million barrels in the week ended November 24, still near the lowest level since 1984, according to the latest Department of Energy data. That is down from about 630 million barrels at the beginning of 2020.

However, it is a notable increase from early 2020, when prices were under $20 per barrel. At the time, former President Donald Trump tried to add 77 million barrels of oil to the emergency oil cache, but he was blocked by congressional Democrats.

Biden administration plans to buy 2.7M oil barrels to refill emergency stockpile

The Biden administration announced on Friday that it plans to buy 2.7 million barrels of oil to help replenishing the nation's Strategic Petroleum Reserve.

www.foxbusiness.com

You moron. He sold it for $95. Biden is on his way to making the US $5-$10B in profit and you start a thread like it’s a slam. Nostradumbass, you are worth a laugh a day.

 

[citygator]

Fake news Nostra? Really:

 

[Hollie]

You moron. He sold it for $95. Biden is on his way to making the US $5-$10B in profit and you start a thread like it’s a slam. Nostradumbass, you are worth a laugh a day.

Good gawd, what a mess. There's no profit to be made. Biden dumped strategic reserves on the market in a sleazy attempt to buy votes with lower gas prices before the mid-terms. The $5 -$10 billion is not a "profit" because it's taxpayer money being spent now that otherwise would not have spent had Biden not dumped those reserves.

 

[citygator]

Good gawd, what a mess. There's no profit to be made. Biden dumped strategic reserves on the market in a sleazy attempt to buy votes with lower gas prices before the mid-terms. The $5 -$10 billion is not a "profit" because it's taxpayer money being spent now that otherwise would not have spent had Biden not dumped those reserves.

Uh… Ok. Send me $95 and I’ll send you $79. Should be no problem for you since it doesnt create any profit for me or loss for you. Here is my Venmo: #anothernostradumbthread

 

[1srelluc]

You moron. He sold it for $95. Biden is on his way to making the US $5-$10B in profit and you start a thread like it’s a slam. Nostradumbass, you are worth a laugh a day.

Link to the average price he has sold it at.....It was not all removed at once but through several reductions you know......Asking for clarity as I can't find it.

That's still well above the $67 - $72 a barrel target the dems set for a refill.

 

[Hollie]

Uh… Ok. Send me $95 and I’ll send you $79. Should be no problem for you since it doesnt create any profit for me or loss for you. Here is my Venmo: #anothernostradumbthread

Uh... OK. You foolishly think that the strategic reserves is a source of fun money that can be used to artificially lower gas prices as a vote buying scheme.

It's a simple fact that more deficit spending is required to replace the reserves. It's an odd thing to see Dems / Socialists use the inverse of common sense to justify idiocies.

Post your credit card information and for a small fee I can as'plain you some basic economics.

 

[1srelluc]

Uh... OK. You foolishly think that the strategic reserves is a source of fun money that can be used to artificially lower gas prices as a vote buying scheme.

It's a simple fact that more deficit spending is required to replace the reserves. It's an odd thing to see Dems / Socialists use the inverse of common sense to justify idiocies.

Post your credit card information and for a small fee I can as'plain you some basic economics.

Yep.

I remember that was the argument when Trump tried refilling it for cheap and the dem nixed it.

 

[Nostra]

Uh… Ok. Send me $95 and I’ll send you $79. Should be no problem for you since it doesnt create any profit for me or loss for you. Here is my Venmo: #anothernostradumbthread

Hey stupid, what did that oil cost to put it in there the first time?

Funny how you omit that number. Why is that?

 

[Harpy Eagle]

Uh… Ok. Send me $95 and I’ll send you $79. Should be no problem for you since it doesnt create any profit for me or loss for you. Here is my Venmo: #anothernostradumbthread

how much did the oil cost that was sold for 95?

 

[citygator]

Link to the average price he has sold it at.....It was not all removed at once but through several reductions you know......Asking for clarity as I can't find it.

That's still well above the $67 - $72 a barrel target the dems set for a refill.

It’s available in a lot of sources from the Energy Dept. I showed a statement above, here is one of many reports:

US Scores $4 Billion Windfall on Oil Reserve Sales

The U.S. has scored a $4 billion windfall on sales from the Strategic Petroleum Reserve (SPR), with emergency releases from the SPR set to end this month as the Biden administration has sought to ease the price of gasoline for consumers.

www.investopedia.com

 

[1srelluc]

The .gov never makes a profit, it's all a net drain because of the borrowed money involved.

 

[citygator]

Uh... OK. You foolishly think that the strategic reserves is a source of fun money that can be used to artificially lower gas prices as a vote buying scheme.

It's a simple fact that more deficit spending is required to replace the reserves. It's an odd thing to see Dems / Socialists use the inverse of common sense to justify idiocies.

Post your credit card information and for a small fee I can as'plain you some basic economics.

If you sell it for $95 and buy it for $79 it reduces the deficit. You should be able to understand that without all of the fancy degrees I have. Also, the release lowered prices 17-24 cents a gallon. It leveraged an unused resource to ease the life expenses for you. You should be thankful.

 

[Nostra]

If Tater refills what he bought votes with at $79 it will cost over $14 billion.

So much for your "profit" citygator

 

[citygator]

Hey stupid, what did that oil cost to put it in there the first time?

Funny how you omit that number. Why is that?

I swear. It’s amazing you get through life without hurting yourself. You already have the oil. It’s sitting in a reserve.

If you have 1 barrel of oil in the reserve your choices are:

1. DO NOTHING… you have a barrel of oil
2. SELL IT FOR $95 and buy it back for $79… you have a barrel of oil AND $16.

 

[shockedcanadian]

You moron. He sold it for $95. Biden is on his way to making the US $5-$10B in profit and you start a thread like it’s a slam. Nostradumbass, you are worth a laugh a day.

The IRA was the global killer, as some of us predicted.

So much was spent/borrowed/printed that no one can even tell you the full number. This dwarfs all other policies except for your open border:

The uncapped incentives of the Inflation Reduction Act mean spending sparked by the historic US climate law could triple initial estimates and push past $1 trillion.

A Year Into Biden’s Climate Agenda, the Price Tag Remains Mysterious

The uncapped incentives of the Inflation Reduction Act mean spending sparked by the historic US climate law could triple initial estimates and push past $1 trillion.

www.bloomberg.com

 

[Hollie]

If you sell it for $95 and buy it for $79 it reduces the deficit. You should be able to understand that without all of the fancy degrees I have. Also, the release lowered prices 17-24 cents a gallon. It leveraged an unused resource to ease the life expenses for you. You should be thankful.

Try and think this through. This is deficit spending. This is spending caused by poor decision making. Sale of the reserves was nothing more than a cheap vote buying scheme.

The ''resource" is now a liability because deficit spending is required to replace the resource.

 

[Nostra]

I swear. It’s amazing you get through life without hurting yourself. You already have the oil. It’s sitting in a reserve.

If you have 1 barrel of oil in the reserve your choices are:

1. DO NOTHING… you have a barrel of oil
2. SELL IT FOR $95 and buy it back for $79… you have a barrel of oil AND $16.

Holy shit you are stupid. You have to factor in what it cost to buy the first time. That $95 isn't all profit, dumbass.

It will cost $14 BILLION at the current price to replace what Tater sold for votes.

 

[citygator]

If Tater refills what he bought votes with at $79 it will cost over $14 billion.

So much for your "profit" citygator

We sold it for $17.3B and will have to buy it back at $14.2B.. That is $3B in profit at that price.

 

[Mac-7]

You moron. He sold it for $95. Biden is on his way to making the US $5-$10B in profit and you start a thread like it’s a slam. Nostradumbass, you are worth a laugh a day.

You are very short sighted

The reserve is for emergencies when the life of the nation could be hanging in the balance

Maintaining Joe biden’s poll numbers pales by comparison